GE puts solar factory in Colo. on hold

General Electric Co. has put its thin-film solar factory in Colorado on hold, the Denver Post and other news outlets have reported.

GE told the Post that the company has to make its product more efficient and less costly in order to compete globally, where an oversupply of solar panels has flooded the market with cheap products. In the past six months, prices have fallen 50 percent, the Post said.

GE was looking to make utility-scale panels that would be used for large power production facilities.

It is unclear what impact GE’s decision in Colorado will have on Schenectady, where GE has its renewable energy headquarters. GE had promised New York state to hire additional workers here to support the Colorado production after New York lost out on getting the facility.